Business · 1 hour ago

Meta shares drop 7% and Nasdaq falls 2.6% on AI spending worries

Meta's plan to sell a new class of non-voting shares, announced on Wednesday, left investors fearing more AI spending and diluted stock. 1. Its yearly spending forecast was also increased at the lower end, to $135 billion, and it recorded its first cash burn in more than ten years. Nvidia fell 4%, chip maker Lam Research dropped 12%, and investors moved into safer Treasury bonds.

By BriefTea Editorial · 23 October 2026 at 7:43

Reported by thestandard.com.hk · How we write briefs

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